Stephens Investment Management Group LLC Purchases 175,831 Shares of PAR Technology Corporation $PAR

Key Points

• Stephens Investment Management Group LLC increased its PAR Technology stake by 62.2% in the first quarter, buying 175,831 additional shares and bringing its total to 458,621 shares worth about $6.1 million.
• Other institutional activity was mixed, with several hedge funds adding small positions while insider activity included a large purchase by Voss Capital and a sale by Cathy A. King.
• PAR Technology reported better-than-expected quarterly results, with EPS of $0.10 and revenue of $123.97 million, though analysts still expect the company to post a full-year loss.

Stephens Investment Management Group LLC grew its position in PAR Technology Corporation (NYSE:PAR - Free Report) by 62.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 458,621 shares of the software maker's stock after buying an additional 175,831 shares during the period. Stephens Investment Management Group LLC owned approximately 1.11% of PAR Technology worth $6,113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PAR. FNY Investment Advisers LLC purchased a new position in PAR Technology in the 3rd quarter worth approximately $26,000. State of Wyoming purchased a new position in shares of PAR Technology in the fourth quarter worth $34,000. Kestra Advisory Services LLC bought a new position in shares of PAR Technology during the fourth quarter valued at $35,000. Central Pacific Bank Trust Division lifted its holdings in shares of PAR Technology by 50.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the software maker's stock valued at $109,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of PAR Technology by 278.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,115 shares of the software maker's stock valued at $216,000 after buying an additional 2,291 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on PAR. Weiss Ratings reiterated a "sell (d-)" rating on shares of PAR Technology in a report on Friday, March 27th. UBS Group set a $16.00 target price on shares of PAR Technology in a research note on Tuesday, June 9th. William Blair reaffirmed an "outperform" rating on shares of PAR Technology in a report on Friday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of PAR Technology from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada set a $16.00 price objective on shares of PAR Technology in a report on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.89.

Insider Activity

In related news, major shareholder Voss Capital, Lp purchased 156,249 shares of PAR Technology stock in a transaction on Friday, June 12th. The stock was acquired at an average price of $14.85 per share, for a total transaction of $2,320,297.65. Following the completion of the transaction, the insider directly owned 5,125,000 shares in the company, valued at $76,106,250. This represents a 3.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cathy A. King sold 20,000 shares of PAR Technology stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.38, for a total value of $307,600.00. Following the transaction, the insider directly owned 122,919 shares in the company, valued at approximately $1,890,494.22. The trade was a 13.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 1,069,900 shares of company stock valued at $15,568,965 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

PAR Technology Trading Down 0.2%

Shares of PAR Technology stock opened at $19.01 on Monday. PAR Technology Corporation has a 1-year low of $11.59 and a 1-year high of $72.15. The company's fifty day simple moving average is $14.99 and its 200-day simple moving average is $20.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.10 and a quick ratio of 1.83. The stock has a market capitalization of $784.20 million, a PE ratio of -10.17 and a beta of 1.32.

PAR Technology (NYSE:PAR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. PAR Technology had a negative return on equity of 2.57% and a negative net margin of 16.04%.The firm had revenue of $123.97 million during the quarter, compared to analyst estimates of $116.88 million. During the same period in the prior year, the business posted ($0.01) EPS. PAR Technology's revenue was up 19.4% on a year-over-year basis. As a group, equities analysts anticipate that PAR Technology Corporation will post -0.16 earnings per share for the current year.

PAR Technology Company Profile

PAR Technology Corp is a provider of enterprise software and hardware solutions for the hospitality, foodservice and retail industries. The company's platforms are designed to streamline front- and back-of-house operations, covering point-of-sale (POS) systems, kitchen display and dispatch, inventory and labor management, and reporting tools. PAR's integrated approach enables operators of full-service restaurants, quick-service chains, bars, hotels, casinos and retail outlets to centralize data and automate workflows across multiple sites.

Key offerings include PAR Brink, a cloud-native POS application that supports touchscreen, mobile and tablet devices; PAR Cloud Services, which delivers software updates, reporting and analytics through a subscription model; and hardware solutions such as payment terminals, handheld devices and self-service kiosks.

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